Cvent, a cloud-based enterprise event management company, has been acquired by private equity firm Vista Equity Partners.
The USD1.65 billion transaction, originally announced on 18 April 2016, was completed on 29 November.
Cvent’s shareholders approved the agreement on 12 July 2016.
Following the transaction, Reggie Aggarwal will remain the chief executive officer and president of Cvent. Cvent will continue to operate as Cvent, Inc.
“We see tremendous value in the cloud-based solutions that Cvent delivers to its customers in this largely untapped meetings and events industry,” says Brian Sheth, co-founder and president of Vista. “We are thrilled to welcome Cvent into the Vista portfolio of high-performing software companies and are excited to partner with Reggie and his team as they continue to build upon the strong foundation they have already established.”
“Cvent is extremely pleased to close this transaction and believe that it is the right move for our customers, employees and investors,” says Reggie Aggarwal, founder and chief executive officer and president of Cvent. “We look forward to working with Vista to continue to innovate the meetings and events technology space.”
